Benchmark starts ‘well positioned’ Rivian Automotive with a Buy

As previously reported, Benchmark initiated coverage of Rivian Automotive (RIVN) with a Buy rating and $18 price target, telling investors that Rivian is “well positioned to gain significant share of a massive market opportunity in the coming decade.” Domestic electric vehicle production is expected to improve in 2025 after a pause this year and further accelerate in 2026-27 as average selling prices decline and the charging infrastructure is built out. Rivian appears “particularly well-positioned” among the EV newcomers with contracts with Amazon (AMZN) and Volkswagen (VWAGY), highly rated vehicles, expected positive gross profit in the current quarter and sufficient financial liquidity, the analyst added.